Retail Auto Demand Trends Remain Mixed In February: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

In continuation to our monthly series, we are monitoring mobility and retail demand trends as we believe both these data points have a lead-lag effect.

Key takeaways for February 2021 -

1. globally mobility data trends remain on the mend with some regions being more effected than others (e.g. UK, Japan); similarly, India also witnessed a broad improvement in mobility trends in most regions with Northern and Eastern states closest to pre-Covid-19 levels, while Western states still down 12-15% (e.g. Maharashtra, Gujarat); and

2. on domestic retail demand trends, passenger vehicle demand remains on growth path (aided by low base due to BS-VI transition), while two-wheelers remained weak (down ~18%) possibly due to weak mass market demand, delay in marriage demand.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.